Abstract:In the context of negative population growth and rapid aging in China, it is urgent to increase fertility rates to prevent the rapid population decline. However, with the improvement of the elderly's health and lifespan, and the continuous improvement of cultural and educational qualifications, the delay of retirement or re-employment of the elderly is also developing rapidly. Based on the analysis of relevant theories and using data from CFPS 2018 and 2020, this study empirically tests the impacts of elderly labor participation on their offspring's fertility decision making. The study finds that elderly labor participation has an inhibitory effect on their offspring's fertility decision making by reducing intergenerational caregiving. On the other hand, it significantly promotes their offspring's fertility decision making through economic support. These two opposite effects result in an overall insignificant impact of the elderly labor participation on their offspring's fertility decision making, indicating that there is no either/or relationship between the two. The study suggests that in the context of negative population growth and aging, it is necessary to fully develop human resources of the elderly and appropriately increase subsidies for fertility families to balance the development of increasing elderly labor participation and fertility rates.